The trade partnership between Brazil and China is generating faster growth in formal employment opportunities for the Brazilian economy compared to other key international partners. This is reported by
Agencia Brasil.
Over a 14-year period, employment directly linked to Brazilian exports to China grew by an impressive 62 per cent. This significantly outstrips the growth associated with exports to other regions.
Similarly, the number of formal jobs related to importing goods from China grew by 55.4 per cent. The official data show that the Brazil-China partnership is the largest employer in import-related activities, accounting for over 5.567 million jobs.
Significantly, 2022 marked the first year in the study’s historical data (starting in 2008) that Sino-Brazilian trade topped the ranking for import-related employment.
Occupational data was gathered by researchers using a formal report that companies provide to the Ministry of Labour and Employment. The study thus focuses on registered formal jobs. The export sector linked to Sino-Brazilian trade employed over 2 million people, the source claimed.
Brazil’s significant trade surplus with China, where export revenues exceed import expenditures, has accumulated to US$276 billion over the past decade. This represents approximately half (51 per cent) of the total trade surplus Brazil has achieved with the rest of the world during that period.
Photo: Suriyapong Thongsawang /
iStock
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